NZ Herald
  • Home
  • Latest news
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather forecasts

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
    • The Great NZ Road Trip
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
    • Cooking the Books
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • What the Actual
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business / Companies / Retail

Flip flop: Trump eyes return to Trans-Pacific Partnership

Washington Post
12 Apr, 2018 05:59 PM5 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

The Trans-Pacific Partnership trade pact, which had been on life support since the United States' withdrawal, has finally been resuscitated.

US President Donald Trump has told top administration officials to look at rejoining the Trans-Pacific Partnership, the multination trade agreement he pulled the United States out of shortly after taking office.

Rejoining the pact would be a major reversal as Trump escalates a trade conflict with China. The Pacific Rim trade deal was intended by the Obama administration as a way to counter China's influence, but Trump criticised the pact as a candidate and pulled the United States out of the pact in early 2017.

Trump gave the new orders to US trade representative Robert Lighthizer and national economic council director Larry Kudlow during a meeting with lawmakers and governors on trade issues, according to two GOP senators in attendance.

Senator John Thune said that he and others at the table raised the point that "if you really want to get China's attention, one way to do it is start doing business with all the people they're doing business with in the region: their competitors."

Trump then told Lighthizer and Kudlow to "take a look at getting us back into that agreement, on our terms of course," Thune said. "He was very I would say bullish about that."

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

Senator Ben Sasse also confirmed Trump's surprise move.

"We should be leading TPP," Sasse said. "China is a bunch of cheaters and the best way to push back on their cheating would be to be leading all these other rule-of-law nations in the Pacific that would rather be aligned with the U.S. than with China."

Engaging in talks to reenter the TPP would be part of a broader White House strategy to respond to an escalating trade flap between Trump and Beijing. Trump is looking for ways to crack down on what he believes are unfair trade practices in China, but he is having a hard time rallying other countries to backstop his push to impose new tariffs or raise the costs of exports and imports for China.

Advertisement
Advertise with NZME.

The president is also running into strong pushback from Republican lawmakers, particularly those representing agricultural regions where China's threatened retaliation against US exports would hit hard.

The TPP is a trade agreement the United States, Canada, Mexico, Japan, Vietnam, Singapore, Australia, and a number of other countries signed in early 2016, aiming to strengthen was meant to strengthen economic ties between the countries and give them more leverage in dealing with China.

The agreement never went into effect, however, because Trump withdrew from it three days after he was sworn in. The remaining countries still ratified a version of the TPP without the United States earlier this year.

Trump has never fully articulated what he opposed about the TPP, but he has shown a general reluctance to enter into multilateral trade deals because he believes these allow the United States to be ripped off.

Discover more

Business

Feds boot Tesla from fatal crash investigation

12 Apr 10:34 PM
Business

Methanex fears for long-term output

12 Apr 10:38 PM
Airlines

British Airways-owner swoops on rival

12 Apr 10:54 PM
Business

Stuttering, squeaky voiced and robotic - the real Zuckerberg

13 Apr 01:41 AM

"The Trans-Pacific Partnership is another disaster done and pushed by special interests who want to rape our country," Trump said in June 2016. "Just a continuing rape of our country. That's what it is, too. It's a harsh word - it's a rape of our country. This is done by wealthy people that want to take advantage of us and that want to sign another partnership."

Trump was not the only one to oppose TPP during the campaign. His Democratic rival, Hillary Clinton, also said she did not plan on ratifying the deal, even after she had a role in its formation during her time as President Barack Obama's Secretary of State.

Before Trump's election, efforts to ratify the deal had stalled in Congress.

In May 2016, as domestic political support for TPP was starting to erode, Obama wrote an op-ed in The Washington Post aiming to rally support.

"Increasing trade in this area of the world would be a boon to American businesses and American workers, and it would give us a leg up on our economic competitors, including one we hear a lot about on the campaign trail these days: China," he wrote.

Trump did not give Japan, one of the U.S.'s closest allies, an exemption from new steel and aluminium tariffs, making it less likely that they would rush to the White House's defence during a trade war.

Advertisement
Advertise with NZME.

But entering into a new TPP could unify Trump with other trading partners and put new pressure on Beijing to either allow more imports into China or risk being alienated by other Asian countries, that would now receive new trade benefits as part of the deal.

Still, it remains to be seen what exactly Trump would want to see in a new TPP, or whether the idea is just a passing fancy for the White House or a serious initiative they plan to launch.

"If it holds until this afternoon, that's a good move," remarked Senator Jeff Flake, a free trade advocate who was not at the White House meeting.

In February, Treasury Secretary Steven Mnuchin said the US was interested in reentering the trade agreement, but he quickly backed off those comments, making it sound like a deal would not materialise.

Save

    Share this article

Latest from Retail

Premium
Retail

NZ fishing rod pioneer returns with innovative tech for new venture

16 May 12:00 PM
Premium
Retail

Briscoes reveals plans for 'mini metro' stores

15 May 03:07 AM
Premium
Business|economy

'Wave of opportunity' – 120 new jobs, some require no experience

15 May 03:00 AM

The Hire A Hubby hero turning handyman stereotypes on their head

sponsored
Advertisement
Advertise with NZME.

Latest from Retail

Premium
NZ fishing rod pioneer returns with innovative tech for new venture

NZ fishing rod pioneer returns with innovative tech for new venture

16 May 12:00 PM

Lanza Rods are handcrafted, using solid carbon fibre for strength and lightness.

Premium
Briscoes reveals plans for 'mini metro' stores

Briscoes reveals plans for 'mini metro' stores

15 May 03:07 AM
Premium
'Wave of opportunity' – 120 new jobs, some require no experience

'Wave of opportunity' – 120 new jobs, some require no experience

15 May 03:00 AM
Retail spending flat in April as Kiwis keep wallets closed

Retail spending flat in April as Kiwis keep wallets closed

13 May 11:55 PM
Gold demand soars amid global turmoil
sponsored

Gold demand soars amid global turmoil

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • What the Actual
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven CarGuide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP